Dental Payment Processing

Dental Payment Processing

Americans are shouldering more financial responsibility for health care costs, and dental health is no exception. A report by the American Dental Association’s (ADA) Health Policy Institute states that the “average annual per-patient dental expenditure… (is) $685… with an average out-of-pocket expenditure of $319.” The report also confirmed that out-of-pocket costs for dental care are a higher percentage of overall reimbursement than other sectors of health care.

In addition to medically-necessary dental procedures, many dental offices generate revenue from cosmetic work – which is generally not covered by insurance. Cosmetic dentistry can range from $50 for teeth whitening to dental veneers that cost up to $1,300 per tooth.

Because of the high percentage of reimbursement coming directly from the patient, dental and orthodontic practices need to be vigilant about collecting patient payments – including those from Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) – and choose a dental payment processing partner carefully.

When a patient requires a more complex dental procedure, accounts receivable (A/R) can add up fast.

Average costs for common dental procedures:

  • Routine tooth extraction $75 – $450

  • All porcelain-crown $800 – $3,000

  • Molar root canal $500 – $2,000

  • Four-unit bridge $2,000 – $12,000

  • Mid-quality dentures $1,000 – $3,000

  • Dental implants up to $30,000

  • Full mouth reconstruction up to $80,000

Benefits

When considering the average costs of dental procedures, it is easy to see why efficient payment processing for dentists is a priority. According to a recent study by Sikka Software, dental practice A/R increased 36% from 2011 to 2016, resulting in the average dental practice carrying $116,744 in A/R.

Dentists and orthodontic offices need convenient payment solutions and payment processing efficiency to keep patient A/R in check. They require the flexibility of taking patient payments at time-of-service, as well as after insurance has been adjudicated.

Practice Management Bridge

Our proprietary Practice Management Bridge® creates more consistent patient payments, resulting in increased payment processing efficiency and stable cash flow. Rectangle Health integrates with any practice management system and our functionality is an attribute no other enterprise can match in size or scale.

In addition to making patient payments as convenient as possible, we recommend that practices focus on the importance of taking payment at time-of-service and raising patient awareness of the financial options available to them.

Some Strategies Include:

Rectangle Health Guarantee

If you don’t see a dramatic reduction in accounts receivable balance after a few months of instituting our full program, we’ll take the entire system back at no charge to you.
FEEDBACK